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An earlier 2008 study of 126 microfinance institutions in 14 Muslim countries [272] found similarly weak outreach—only 380,000 members [Note 18] out of an estimated total population of 77 million there were "22 million active borrowers" of non-sharia-compliant microfinance institutions ("Grameen Bank, BRAC, and ASA") as of 2011 in Bangladesh ...
While a number of scholars (Manzur Ahmad, Hossein Askari, Zamir Iqbal and Abbas Mirakhor) have cast doubt on the shariah compliance of any kind of credit card – or at least cards that "can offer the same service as the conventional credit card" [390] [391] [392] – there are credit cards claiming to be shariah-compliant (particularly in ...
[2] [4] Some countries with Muslim minorities use Sharia-based laws to regulate banking, economics, inheritance, marriage and other governmental and personal affairs of their Muslim population. The use of Sharia in non-Muslim countries and on non-Muslims is debated.
A Sharia Board (also Sharia Supervisory Board, Advisory Board or Religious Board) [1] certifies Islamic financial products as being Sharia-compliant (i.e. in accordance with Islamic law). [2] Because compliance with Sharia law is the underlying reason for the existence of Islamic finance, Islamic banks (and conventional banking institutions ...
By 2009, there were over 300 "shariah compliant banks and 250 mutual funds around the world, [155] and around $2 trillion were sharia-compliant by 2014. [ 156 ] [ 157 ]
The Dow Jones Islamic Market Index (DJIM), is a stock market index created for investors seeking investments using Islamic finance in compliance with Muslim Sharia law.. The DJIM indices use a screening process to identify companies that are compliant with Shariah law.
The S&P BSE 500 Shariah Index is an Indian stock market index that represent all Shariah compliant companies of the broad-based S&P BSE 500 index. The index is part of the family of S&P Shariah indices with the S&P 500 Shariah, S&P Europe 350 Shariah, and S&P Pan Asia Shariah among others.
He co-founded TASIS (Taqwaa Advisory and Shariah Investment Solutions), a shariah advisory institution, related to finance, based in Mumbai, that screens stocks for Shariah compliance. His first major work was the launch of India's first Shariah Index in association with the Bombay Stock Exchange [2] (i.e. "BSE TASIS Shariah 50").
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